Abacus Storage King Receives Acquisition Proposal from Ki and Public Storage

Abacus Property Group ( (AU:ABG) ) has shared an announcement.

Abacus Property Group announced that Abacus Storage King has received a non-binding indicative proposal from Ki Corporation Limited and Public Storage to acquire all outstanding stapled securities not already held by Ki. The proposal includes a scheme of arrangement and trust scheme, with securityholders offered A$1.47 per stapled security. If successful, Public Storage would own approximately 50% of ASK’s securities, with the remainder held by Ki. The proposal is contingent on several conditions, including board approvals, regulatory clearances, and tax rulings. This acquisition could significantly impact Abacus’s operations and market positioning, as well as influence stakeholder interests.

More about Abacus Property Group

Abacus Property Group is a company involved in property management and investment, operating primarily in the real estate sector. It manages various trusts and projects, focusing on property-related investments and services.

YTD Price Performance: -0.91%

Average Trading Volume: 602,569

Technical Sentiment Signal: Buy

Current Market Cap: A$974.1M

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